§16-29A-14. Purchase and cancellation of notes or bonds.
The authority, subject to such agreements with noteholders
or bondholders as may then exist, shall have power, out of any
funds available therefor, to purchase bonds, including refunding
bonds, or notes of the authority.

If the bonds or notes are then redeemable, the price of such
purchase shall not exceed the redemption price then applicable
plus accrued interest to the next interest payment date thereon.
If the bonds or notes are not then redeemable, the price of such
purchase shall not exceed the redemption price applicable on the
first date after such purchase upon which the bonds or notes
become subject to redemption plus accrued interest to such date.
Upon such purchase, such bonds or notes shall be canceled.